Pakistan needs more money to meet its its gross external financing requirement

Pakistan has received the first installment of loan from IMF. State Bank of Pakistan’s spokesman has confirmed that Pakistan has received the amount and meet its external financing requirement.

Politicians and PPP stalwarts are painting a rosy picture about our future. I must remind them that Pakistan needs $13 billion to meet its gross external financing requirement for the current fiscal year, which ends on June 30, 2009.

They were saying that they would get the remaining amount from other sources. We know that all our friends have refused to give us aid and loans. They say all previous loans and aid money were squandered by politicians and government officials. It means the crisis is not over yet. Let us see how our president deals with that.